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14.04.202116:41 Forex Analysis & Reviews: EUR/USD Hot Forecast for 14 April, 2021

EUR/USD is trading above 1.1950, extending its gains and trading at three-week highs. Markets cheer tame US inflation and await speeches by the ECB's Lagarde and the Fed's Powell. Vaccine developments are eyed.

Exchange Rates 14.04.2021 analysis

EUR/USD reverses the initial pessimism and advances beyond the 1.1900 hurdle at the beginning of the week.The rebound from YTD lows near 1.1700 remains healthy so far. A sustainable breakout of recent swing high should open the door to further gains with the next target at the 50% fibonacci retracement . A surpass of this area allows for a move to the key 1.2000 hurdle which coincides with the bearish parallel channel resistance.

The EUR/USD pair is near its recent high at 1.1927, the immediate resistance. The risk is skewed to the upside, although the bullish potential seems limited in the near-term.If EUR/USD break closes below recent low at 1.1860, we will see bearish traders pushing the market towards 1.171 support and further below awaits the lower boundry of the channel

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Jan Novotny,
Analytical expert of InstaSpot
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